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Investments

Aker Energy

Aker Energy owns 50 per cent of the Deepwater Tano Cape Three Points oil field in Ghana.

AKER’S ENGAGEMENT
Aker owns 50.79 per cent of Aker Energy. At 31 December 2019, Aker's shares in Aker Energy had a book value of NOK 0.9 billion, corresponding to 1.5 per cent of Aker’s total assets. Kjell Inge Røkke and Øyvind Eriksen represent Aker on the company’s board of directors.

AKER’S OWNERSHIP AGENDA
Drilling operations in 2019 have confirmed contingent resources of 450–550 million barrels of oil equivalents in the Deepwater Tano Cape Three Points (DWT/CTP) block. Previously, Aker Energy has focused on securing approval of the Plan for Development and Operation (PDO) of the Pecan field, which would lay a strong commercial basis for an investment decision and financing for the field development. However, given the unprecedented collapse in oil prices in the first quarter of 2020, the company, with the support of Aker, has decided to postpone the Pecan project indefinitely. At the top of Aker's ownership agenda is to find potential for improvement, including for the technical solution, as well as supporting Aker Energy's strategy of exploring opportunities for transactions. Aker Energy has a constructive dialogue with the authorities in Ghana, and have a shared understanding of the challenges being faced.

For more information, please visit www.akerenergy.com .

Aker Energy

Geographic marked:
International

Sector:
Oil and gas

Category:
Exploration and production

Share of Aker's total assets (4Q19)
1.5%

Acting CEO & President:
Håvard Garseth

Board Chairman:
Karl Johnny Hersvik

Website:
www.akerenergy.com